Price Level of GDP, average of GEKS-CPDW for Spain
PL2GDPESA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
97.46
Year-over-Year Change
31.55%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Spain measures the relative purchasing power of the Spanish GDP compared to a reference region or year. This metric is critical for economists and policymakers to compare economic performance across countries.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Price Level of GDP, average of GEKS-CPDW for Spain is an index that reflects the general price level of goods and services in Spain relative to a reference. It is used to adjust GDP figures for international comparisons, providing insights into a country's cost of living and standard of living.
Methodology
This data is calculated by the OECD using the Geary-Khamis (GEKS) multilateral method and the Country-Product-Dummy (CPD) weighting.
Historical Context
Policymakers and analysts use this data to evaluate Spain's economic competitiveness and purchasing power relative to other countries.
Key Facts
- The index is based on 2017 = 100.
- Spain's price level was 85.4% of the OECD average in 2021.
- This metric helps adjust for differences in price levels when comparing GDP across countries.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, average of GEKS-CPDW for Spain measures the relative purchasing power of the Spanish GDP compared to a reference region or year.
Q: Why is this trend relevant for users or analysts?
A: This metric is critical for economists and policymakers to compare economic performance and living standards across countries by adjusting for differences in price levels.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using the Geary-Khamis (GEKS) multilateral method and the Country-Product-Dummy (CPD) weighting.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to evaluate Spain's economic competitiveness and purchasing power relative to other countries, informing decisions around trade, investment, and economic development.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so there may be a delay in reflecting the most recent economic conditions in Spain.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Spain (PL2GDPESA621NUPN), retrieved from FRED.